After the merger, Ho Chi Minh City could build a marine economic zone with special regulations similar to Dubai.

After merging with Ba Ria - Vung Tau province, Ho Chi Minh City will possess a significant coastline and could certainly learn from Dubai by building a maritime economic zone with special regulations, similar to the Dubai Maritime City model.

This creates favorable conditions for building and implementing a blue economy development strategy, a development model closely linked to the sea, ensuring the sustainability of the ocean ecosystem, protecting the environment while rationally exploiting resources with investment in regeneration.

The new pillar of the blue economy

The blue economy sectors include: green ports and logistics, ecotourism , offshore renewable energy (wind, wave, tidal), and sustainable aquaculture and fisheries. In particular, coastal construction and real estate development, land reclamation, and development on artificial islands are emerging as a new pillar of the economy.

In the context of dwindling urban land, exorbitant compensation costs, lengthy project timelines, and overloaded existing infrastructure, orienting towards the sea is a highly promising strategy. This is precisely the path that countries like the United Arab Emirates (UAE) have successfully followed, a path I have personally observed.

Since 1995, the UAE has implemented hundreds of land reclamation and artificial island projects. According to World Bank data and the government website, the UAE's land area is 71,020 km2. In reality, the UAE's current area is 83,600 km2, a significant increase, and it continues to expand.

Notable projects include: Palm Jumeirah (5.72 km²), The World Islands (with 300 artificial islands, 9.31 km²), Palm Jebel Ali (13.4 km²), Deira Island, also known as Dubai Islands (17 km²), Yas Island (25 km²)... The UAE is currently one of the top 5 countries in the world for land reclamation, alongside the Netherlands, South Korea, Singapore, and China.

Ba Ria - Vung Tau Province. Photo: Nguyen Hue

Coastal real estate, particularly in new urban areas and artificial islands, is becoming a crucial development hub for Dubai's economy. If properly implemented, combining green planning, green infrastructure, green transportation, and green energy, coastal urban areas and artificial islands could completely transform the urban landscape and international standing of Ho Chi Minh City.

This is also a valuable lesson from the UAE: as modern new urban areas attract residents and investment, older cities like Bur Dubai, Deira, and Dubai Creek gradually become obsolete. Land prices in these older areas have decreased relatively, opening up opportunities for phased reconstruction.

Each square meter of land in Dubai currently costs an average of $3,515-$7,287. Therefore, 700 square kilometers of reclaimed land and artificial islands would be worth at least $246 trillion – more than five times Vietnam's current GDP.

When infrastructure in these areas is fully developed and investment-friendly policies are implemented, foreign capital will flow in strongly. That's exactly what Dubai did: the government invested relatively little in initial infrastructure but triggered hundreds of billions of dollars in private and international investment.

According to data from the Dubai Land Department, the total value of real estate transactions in Dubai reached $207 billion in 2024 alone. This demonstrates the clear impact of infrastructure development, policy support, and private investment.

Things Ho Chi Minh City can learn from

Ho Chi Minh City could certainly learn from Dubai by building a maritime economic zone with special regulations, similar to the Dubai Maritime City model.

This is an integrated urban-industrial-port complex on an artificial peninsula, combining maritime finance, maritime logistics, training academies, and upscale residential areas. This model is a key part of the UAE's blue economy strategy.

Can Gio District, Ho Chi Minh City, viewed from above. Photo: Nguyen Hue

It is important to note that land reclamation and the construction of artificial islands must be accompanied by the protection of marine ecosystems and biodiversity, and in particular, strict protection of the Can Gio mangrove forest biosphere reserve – a rare green lung and a source of pride for Ho Chi Minh City.

Expanding on a national scale, Vietnam possesses unique advantages with over 3,260km of coastline, nearly 1 millionkm2 of exclusive economic zone (EEZ), a diverse marine ecosystem, approximately 40% of its population residing in coastal provinces, along with 34 seaports, aquaculture and fisheries production of 9.06 million tons in 2024, and the potential for offshore wind power development of up to 600GW (according to the World Bank). Coastal and island tourism currently contributes up to 70% of the country's total tourism revenue.

Therefore, not only Ho Chi Minh City but Vietnam as a whole needs a national strategy for developing a blue economy, with marine spatial planning, targeted investment, technology attraction, and compatible institutional reforms. Turning towards the sea is the strategic development space for the 21st century.

Vietnamnet.vn

Source: https://vietnamnet.vn/sau-sap-nhap-tphcm-co-the-xay-khu-kinh-te-bien-voi-quy-che-dac-biet-nhu-dubai-2395105.html